ECONOMY

Interested investors conduct due diligence ahead of Eurolife ERB’s sale

interested-investors-conduct-due-diligence-ahead-of-eurolife-erb-s-sale

There is concrete investor interest in the purchase of the Eurobank Group’s insurance arm, Eurolife ERB, and major funds interested in the company are already conducting due diligence.

The sale concerns 80 percent of the Eurolife ERB Insurance Group, which is a holding company that owns three insurance companies (life and general insurance firms and an insurance agency) and is itself 100 percent-owned by Eurobank.

The insurance group is valued at 400 million euros, which is twice Eurobank’s stock value.

The successful completion of the bank’s recap has now opened the way for the sale of the insurance group.